Latest news with #AmerKhansaheb
Zawya
13-05-2025
- Business
- Zawya
Union Properties enters 2025 with strong financial performance; revenues jump 18% in Q1-25
Dubai: Union Properties began 2025 with positive financial performance, generating an annual increase of 18.20% in revenue to AED 163 million as of 31 March 2025, when compared with AED 138 million. Gross profit jumped by 25.30% to AED 42.80 million in the first quarter (Q1) of 2025 from AED 34 million, backed by enhanced operational efficiency and sustained demand. The group lowered its bank debt by AED 179 million and plans to pay an additional AED 159 million in Q2-25, according to a press release. These repayments build on the AED 723 million settled in 2024, anchoring the group's unwavering commitment to prudent and disciplined financial management and long-term sustainability. Amer Khansaheb, CEO at Union Properties, said: 'Union Properties has entered 2025 with strong momentum, underpinned by a robust first quarter that reinforces the strength of our business model and the trust of our stakeholders.' 'By actively advancing new project launches and realizing value through strategic asset optimization, we are creating a dynamic platform for sustainable growth,' Khansaheb added. He concluded: 'As we look ahead, Union Properties is exceptionally well-positioned to seize emerging opportunities in the UAE's thriving Real Estate sector and play a key role in supporting Dubai's ambition to become a premier global investment destination.' At the end of December 2924, Union Properties achieved net profits worth AED 275.63 million.
Web Release
09-05-2025
- Business
- Web Release
Union Properties Delivers Strong Q1 2025 Results, Revenue Grows 18.2% and Pays Down AED179 million of Legacy Debt
Union Properties PJSC ('Union Properties' or 'the Company') (DFM symbol: UPP) announced its financial results for the first quarter of 2025, reporting a strong start to the year with 18.2% increase in revenue, reaching AED163 million compared with AED138 million in Q1 2024. This revenue growth is expected to continue, supported by strategic initiatives and project launches, with significant increases anticipated each quarter. This solid performance underscores the Company's continued focus on its core operations and the positive contributions of its high-performing subsidiaries across the UAE's Real Estate sector. Gross profit increased to AED42.8 million, representing a 25.3% increase compared to AED34million in Q1 2024, reflecting a strong gross profit growth fuelled by enhanced operational efficiency and sustained demand. Furthermore, Union Properties continues to advance its financial restructuring strategy, targeting enhanced flexibility and long-term sustainability. In Q1 2025, the Company reduced its bank debt by AED179 million and plans to pay an additional AED159 million in Q2 2025. These repayments build on the AED723 million successfully settled in 2024, reinforcing the Company's unwavering commitment to prudent and disciplined financial management and long-term sustainability. Eng. Amer Khansaheb, Chief Executive Officer and Board Member at Union Properties PJSC, said: 'Union Properties has entered 2025 with strong momentum, underpinned by a robust first quarter that reinforces the strength of our business model and the trust of our stakeholders. Our solid growth in revenue and profitability—alongside strategic debt management—highlights the effectiveness of our long-term strategic roadmap. By actively advancing new project launches and realising value through strategic asset optimisation, we are creating a dynamic platform for sustainable growth. As we look ahead, Union Properties is exceptionally well-positioned to seize emerging opportunities in the UAE's thriving Real Estate sector and play a key role in supporting Dubai's ambition to become a premier global investment destination.' Union Properties is strategically focused on strengthening its financial position. The Company continues to demonstrate significant progress by actively deleveraging its legacy debt, launching new development projects, and achieving consistent revenue growth, reflecting a balanced and forward-looking strategy. The increase in the admin expenses is reflected in the marketing and sales activation for new developments, accelerating growth and enhancing visibility for upcoming projects. As part of this approach, the Company is actively exploring opportunities to increase liquidity and maximise asset utilisation, reinforcing its ability to stay financially agile and resilient in a competitive market.
Mid East Info
08-05-2025
- Business
- Mid East Info
Union Properties Delivers Strong Q1 2025 Results, Revenue Grows 18.2% and Pays Down AED179 million of Legacy Debt
Union Properties PJSC ('Union Properties' or 'the Company') (DFM symbol: UPP) announced its financial results for the first quarter of 2025, reporting a strong start to the year with 18.2% increase in revenue, reaching AED163 million compared with AED138 million in Q1 2024. This revenue growth is expected to continue, supported by strategic initiatives and project launches, with significant increases anticipated each quarter. This solid performance underscores the Company's continued focus on its core operations and the positive contributions of its high-performing subsidiaries across the UAE's Real Estate sector. Gross profit increased to AED42.8 million, representing a 25.3% increase compared to AED34million in Q1 2024, reflecting a strong gross profit growth fuelled by enhanced operational efficiency and sustained demand. Furthermore, Union Properties continues to advance its financial restructuring strategy, targeting enhanced flexibility and long-term sustainability. In Q1 2025, the Company reduced its bank debt by AED179 million and plans to pay an additional AED159 million in Q2 2025. These repayments build on the AED723 million successfully settled in 2024, reinforcing the Company's unwavering commitment to prudent and disciplined financial management and long-term sustainability. Eng. Amer Khansaheb, Chief Executive Officer and Board Member at Union Properties PJSC, said: 'Union Properties has entered 2025 with strong momentum, underpinned by a robust first quarter that reinforces the strength of our business model and the trust of our stakeholders. Our solid growth in revenue and profitability—alongside strategic debt management—highlights the effectiveness of our long-term strategic roadmap. By actively advancing new project launches and realising value through strategic asset optimisation, we are creating a dynamic platform for sustainable growth. As we look ahead, Union Properties is exceptionally well-positioned to seize emerging opportunities in the UAE's thriving Real Estate sector and play a key role in supporting Dubai's ambition to become a premier global investment destination.' Union Properties is strategically focused on strengthening its financial position. The Company continues to demonstrate significant progress by actively deleveraging its legacy debt, launching new development projects, and achieving consistent revenue growth, reflecting a balanced and forward-looking strategy. The increase in the admin expenses is reflected in the marketing and sales activation for new developments, accelerating growth and enhancing visibility for upcoming projects. As part of this approach, the Company is actively exploring opportunities to increase liquidity and maximise asset utilisation, reinforcing its ability to stay financially agile and resilient in a competitive market.
Zawya
08-05-2025
- Business
- Zawya
Union Properties delivers strong Q1 2025 results, revenue grows 18.2% and pays down AED179mln of legacy debt
UAE, Union Properties PJSC ('Union Properties' or 'the Company') (DFM symbol: UPP) announced its financial results for the first quarter of 2025, reporting a strong start to the year with 18.2% increase in revenue, reaching AED163 million compared with AED138 million in Q1 2024. This revenue growth is expected to continue, supported by strategic initiatives and project launches, with significant increases anticipated each quarter. This solid performance underscores the Company's continued focus on its core operations and the positive contributions of its high-performing subsidiaries across the UAE's Real Estate sector. Gross profit increased to AED42.8 million, representing a 25.3% increase compared to AED34million in Q1 2024, reflecting a strong gross profit growth fuelled by enhanced operational efficiency and sustained demand. Furthermore, Union Properties continues to advance its financial restructuring strategy, targeting enhanced flexibility and long-term sustainability. In Q1 2025, the Company reduced its bank debt by AED179 million and plans to pay an additional AED159 million in Q2 2025. These repayments build on the AED723 million successfully settled in 2024, reinforcing the Company's unwavering commitment to prudent and disciplined financial management and long-term sustainability. Eng. Amer Khansaheb, Chief Executive Officer and Board Member at Union Properties PJSC, said: ' Union Properties has entered 2025 with strong momentum, underpinned by a robust first quarter that reinforces the strength of our business model and the trust of our stakeholders. Our solid growth in revenue and profitability—alongside strategic debt management—highlights the effectiveness of our long-term strategic roadmap. By actively advancing new project launches and realising value through strategic asset optimisation, we are creating a dynamic platform for sustainable growth. As we look ahead, Union Properties is exceptionally well-positioned to seize emerging opportunities in the UAE's thriving Real Estate sector and play a key role in supporting Dubai's ambition to become a premier global investment destination.' Union Properties is strategically focused on strengthening its financial position. The Company continues to demonstrate significant progress by actively deleveraging its legacy debt, launching new development projects, and achieving consistent revenue growth, reflecting a balanced and forward-looking strategy. The increase in the admin expenses is reflected in the marketing and sales activation for new developments, accelerating growth and enhancing visibility for upcoming projects. As part of this approach, the Company is actively exploring opportunities to increase liquidity and maximise asset utilisation, reinforcing its ability to stay financially agile and resilient in a competitive market.
Zawya
18-02-2025
- Business
- Zawya
UAE: Union Properties sees growth in operating profit; new projects unveiled
Dubai: Union Properties witnessed lower net profits at AED 275.63 million in 2024, compared to AED 837.61 million in 2023, according to the financial statements. Basic and diluted earnings per share (EPS) dropped to AED 0.06 last year from AED 0.19 in 2023, while the revenues increased to AED 528.75 million from AED 508 million. Operating profit jumped by 59% year-on-year (YoY) to AED161.80 million as of 31 December 2024. Union Properties achieved AED 1.30 billion in land sales, while its current assets now exceed its current liabilities by AED 566 million for the first time in many years. This performance highlights the company's remarkable achievements in debt restructuring, with total repayments amounting to AED 723 million completed in 2024. The group reduced its finance cost to AED 31.70 million in 2024 from AED 114 million in 2023, further enhancing its financial position. In the fourth quarter (Q4) of 2024, the DFM-listed firm incurred accumulated losses valued at AED 1.86 billion, accounting for 43.60% of the capital. Amer Khansaheb, CEO of Union Properties, said: 'Key achievements such as significant improvement in liquidity, growth in operating profit, the success of our subsidiaries, and the launch of exciting new projects demonstrate our commitment to delivering value to stakeholders.' 'Looking ahead to 2025, we will focus on community growth and the sustainable development of Dubai's Real Estate sector. Additionally, we are set to launch two new projects soon, worth AED 4 billion, supporting our expansion goals,' Khansaheb added. As part of its AED 6 billion development strategy, Union Properties plans to launch two new projects soon, contributing to the UAE Real Estate market's increasing value, which is poised to expand at an annual growth rate of 2.25% between 2024 and 2029. The market's valuation is expected to hit $759 billion by the end of the forecast period.
